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Business Brief

By: Tisiphani Mayfield
By: Tisiphani Mayfield

The Wall Street Journal is reporting that Delta Airlines is close to filing for bankruptcy protection, which could happen as early as this week.

The nation's third largest passenger carrier has had a troubled four years of flying and is now said to be nearing a $1.7 billion financing agreement to help keep it in business. Delta directors still need to approve the Chapter 11 deal.

The full scope of Hurricane Katrina's economic effects has yet to be realized, but it's clear the oil industry has taken a major hit.

More than 120 oil and gas platforms in the Gulf of Mexico remain shut down, causing a 60 percent decrease in daily oil production.

Those shutdowns have blocked the shipment of more than 900,000 barrels of oil and 3.8 billion barrels


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